The present invention provides systems and methods related to approving the loading, re-loading, and/or use of stored value cards.
In a standard commercial transaction, a purchaser supplies a credit card, cash, or a check as value that is exchanged for a purchased good. Where a check bounces, the credit card is stolen or otherwise invalid, or the cash is counterfeit, the merchant sustains a loss. This loss is often built into the margin of goods being sold. Thus, a merchant can sustain some level of losses due to fraudulent behavior.
There is often no margin or very little margin in the sales of gift cards. This is because a gift card is typically loaded with a cash balance equal to an amount tendered from a purchaser of the gift card. Thus, where a fraudulent form of value is presented in exchange for a gift card, it is similar to a merchant exchanging a real bill for a counterfeit bill of the same denomination. Accordingly, there exists a need in the art for advanced systems and methods for monitoring behavior ongoing in relation to gift cards and other stored value cards, and/or advanced systems and methods to prevent fraudulent activity performed in relation to such stored value cards.